Brokerage Firms,Current Investigations,Securities Fraud | June 3, 2020

William Galvin, the top securities regulator in Massachusetts, filed a Complaint against GPB Capital this week that alleges GPB Capital issued illegal marketing materials filled with misstatements and omissions of material fact in the course of selling its investments to clients. Meyer Wilson has been on top of the GPB Capital debacle since it started… read more

COVID-19 | May 27, 2020

The COVID-19 pandemic has put the United States in a health and economic crisis. When the US was beginning to realize that the coronavirus was much more serious than originally thought, the stock market did not move very much – at first. However, that all changed when stay at home and quarantine orders went into… read more

Brokerage Firms,COVID-19 | May 17, 2020

The coronavirus pandemic has led to an unprecedented situation in this country. We have dealt with, and are still going through, an unimaginable health crisis. The country’s economy has also taken a sharp hit as millions of Americans have filed for unemployment, and businesses in every state continue to suffer. Unfortunately, many investors have also… read more

SEC News | May 10, 2020

By: Courtney Werning, Esq. Long have stockbrokers referred to themselves as “financial advisors” or “wealth advisors.” Until now, regulators have allowed it. Next month, the rules change. “Brokers” conduct investment transactions for their clients. Under the current rules, they are allowed to recommend products that are suitable for an investor but which may also earn… read more

In the News,Stockbroker Misconduct | April 22, 2020

By Chad M. Kohler, Esq. Too much oil has been pumped, not enough people are buying it, and we’re running out of places to put it. These facts have combined in recent days to obliterate crude oil values. On Monday, prices for West Texas Intermediate crude contracts for May delivery dropped a stunning 306% and… read more

Securities Arbitration | April 17, 2020

By Courtney Werning, Esq. According to InvestmentNews, a federal judge denied Morgan Stanley’s motion last week to appeal a $3.3 million FINRA arbitration award it lost to investors in Puerto Rican bonds.  The award included a $3 million sanction against Morgan Stanley for purposefully concealing evidence in a hearing, which Morgan Stanley argued was excessive. … read more

Current Investigations,Investment Fraud | April 10, 2020

By: Courtney Werning, Esq. Meyer Wilson is currently investigating claims against Newbridge Securities broker Scott Brooks of San Clemente, California for the inappropriate sale of GPB Capital Funds to his customers. Brooks’s employing brokerage firm, Newbridge Securities Corporation, approved the sale of a series of limited partnerships issued by GPB Capital Holdings, including GPB Automotive… read more

Ponzi Schemes | April 9, 2020

By: Courtney Werning, Esq. A Ponzi scheme’s collapse almost always leads to a bankruptcy, receivership, or some other formal liquidation proceedings.  In these proceedings, a trustee or receiver is charged with collecting as much funds as possible to pay creditors and defrauded investors.  Among the methods used to recover assets are claims against investors who… read more

Investor Information | April 8, 2020

By: Courtney Werning, Esq. Investors are confronted with a variety of professional designations for people in the financial services industry, but it can be difficult for the average investor to understand and appreciate the wide distinctions between them.  One particular designation that implies specialized skill might mean much less than you think. A financial planner… read more

COVID-19,Elder Abuse | April 7, 2020

By: Courtney Werning, Esq. Our governments have taken severe measures to limit personal interactions with seniors in an effort to protect the population most vulnerable and at risk for the Coronovirus.  Isolating seniors, however, can exacerbate another problem to which seniors are particularly vulnerable: financial exploitation. According to a recent InvestmentNews article, isolating seniors creates… read more